Watsco, Inc. 4Q23 Investor Presentation Safe Harbor Statement This Presentation contains or incorporates by reference statements that are not historical in nature and that are intended to be, and are hereby identified as, "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Statements which are not historical in nature, including the words "anticipate," "estimate," "could," "should," "may," "plan," "seek," "expect," "believe," "intend," "target," "will," "project, ...

This Presentation contains or incorporates by reference statements that are not historical in nature and that are intended to be, and are hereby identified as, "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Statements which are not historical in nature, including the words "anticipate," "estimate," "could," "should," "may," "plan," "seek," "expect," "believe," "intend," "target," "will," "project," "focused," "outlook", "goal", "designed" and variations of t ...

Watsco, Inc. 3Q24 Investor Presentation Safe Harbor Statement This Presentation contains or incorporates by reference statements that are not historical in nature and that are intended to be, and are hereby identified as, "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Statements which are not historical in nature, including the words "anticipate," "estimate," "could," "should," "may," "plan," "seek," "expect," "believe," "intend," "target," "will," "project, ...

This Presentation contains or incorporates by reference statements that are not historical in nature and that are intended to be, and are hereby identified as, "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Statements which are not historical in nature, including the words "anticipate," "estimate," "could," "should," "may," "plan," "seek," "expect," "believe," "intend," "target," "will," "project," "focused," "outlook", "goal", "designed" and variations of t ...

Investor Presentation Additional factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2024, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events and how they may affect the Company. We assume no obligation to update these forward-looking statements. This presentation also includes non-GAAP financial information, which should be considere ...

Summary of Trane Technologies (TT) FY Conference Call Company Overview - **Company**: Trane Technologies (TT) - **Event**: Oppenheimer's twentieth Annual Industrial Growth Conference - **Date**: May 05, 2025 Key Industry Insights Commercial HVAC - **Payback Periods**: Average payback for retrofit projects is around three years, with some cases extending to four or five years. This is an improvement from previous years due to enhanced product efficiency, which has increased by 50% to 70% over the last seven years [5][6][8]. - **Pipeline Definition**: Trane defines its pipeline as unfactored (all known projects) and factored (based on probability and timing). The company reports strong pipelines across various verticals in the Americas [6][8]. - **Sales Force Dynamics**: The direct sales force is regionally focused, understanding local regulations and customer needs, which aids in project conversion and customer engagement [10][12][13]. Vertical Performance - **Growth Verticals**: Data centers and higher education sectors are showing continued growth. The company has not seen a significant impact from the end of ESSER funding on the education sector [18][20][22]. - **Weaker Verticals**: The life sciences and certain office spaces (Class B and C) have been softer, but Class A office spaces are experiencing tight market conditions, enhancing HVAC demand [17][14]. Regional Performance - **Asia**: Represents less than 8% of enterprise revenues, with China showing a soft market but moderate improvement. The rest of Asia is performing strongly [25][28]. - **EMEA**: Strong performance in commercial HVAC with double-digit order growth. The transport market is expected to decline slightly, but Trane's innovation is expected to drive demand [29][30]. Financial Performance Pricing and Margins - **Pricing Strategy**: The company has successfully implemented price increases in response to inflation, delivering 10% price increases in 2022 and 5% in 2023. The focus is on maintaining gross margin dollar neutrality while managing costs [52][54]. - **Cost Management**: Trane is actively working to mitigate tariff impacts through supply chain adjustments and surgical pricing strategies [50][56]. Inventory and Transition - **Channel Inventory**: Elevated channel inventory is estimated at $75 million to $100 million, primarily consisting of R-454B products. The transition from R-410A to R-454B has been smooth, with 80% of sales in the first quarter being R-454B [36][37]. Innovation and Technology - **Digital Solutions**: The acquisition of Brainbox AI is expected to enhance Trane's digital offerings, allowing for better energy management and cost savings for customers [74][75]. - **Service Growth**: The services segment, linked to commercial HVAC, has shown strong growth and is expected to continue contributing positively to margins [44]. Competitive Landscape - **Market Position**: Trane Technologies is positioned to gain market share due to its regional manufacturing strategy, which mitigates tariff impacts and allows for competitive pricing [62][63]. Capital Allocation - **M&A Strategy**: The company is focused on acquiring early-stage technologies that align with its sustainability goals and enhancing its market presence in Europe and other regions [73][75]. Conclusion Trane Technologies is experiencing robust growth in its commercial HVAC segment, driven by improved efficiency, a strong sales force, and strategic regional focus. The company is well-positioned to navigate market challenges through effective pricing strategies, innovation, and capital allocation.

Trane Technologies (TT) Q1 2025 Earnings Call April 30, 2025 10:00 AM ET Speaker0 Good morning. Welcome to the Trane Technologies Q1 twenty twenty five Earnings Conference Call. My name is Julianne, and I will be your operator for the call. The call will begin in a few moments with the speakers' remarks and the Q and A session. At this time, all participants are in a listen only mode. Thank you. I will now turn the call over to Zach Nagel, Vice President of Investor Relations. Speaker1 Thanks, operator. Goo ...

First-Quarter 2025 Results April 30, 2025 Forward-Looking Statements This presentation includes "forward-looking" statements within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our future financial performance and targets, including revenue, EPS, operating income, operation margin and earnings; operating leverage; our business operations; demand for our products and services, including bookings and backlog; capital deployment, includ ...

Investment Rating - The report does not explicitly provide an investment rating for the sectors discussed Core Insights - The report highlights the impact of increased US tariffs on various sectors including appliances, autos, industrial tech, and solar companies, with management expressing concerns over supply chain disruptions and capital allocation strategies China Consumer Durables - Companies derive an average of 35% of revenues from China exports and 7% from exports to the US [5] - Production is shifting to overseas factories, with some companies receiving more orders from US clients as they seek to restock before the tariff reprieve period ends [6] - There is low visibility on price re-negotiation, with companies cautious about raising prices due to market share concerns [6] - Ex-US demand remains stable, particularly in Europe, which is expected to absorb US capacity [6] - CAPEX visibility is low, with Mexico considered a safer investment location due to its free trade agreement with the US [6] China Autos - Companies derive 6%-26% of total revenue from China exports and 0%-10% from exports to the US [7] - Management believes US-China trade tensions have softened recently, with expectations of higher exports to Europe due to ongoing negotiations [7] - Auto suppliers report no order cancellations and are negotiating new prices, with some passing on the full tariff burden to customers [8][10] China Industrial Tech - Companies derive 15%-45% of total revenue from exports and 2%-20% from exports to the US [11] - Orders paused initially in early April but returned to normal by the second week, with some customers continuing their overseas construction plans despite tariff uncertainties [11] - Most companies have signed FOB contracts, meaning customers bear the tariff costs [11] - Companies are maintaining existing capacity expansion plans, with some pausing expansion until tariff policies are clearer [12] China Solar - Companies involved in solar exports have 0%-15% direct exports to the US and 35%-55% to other countries [17][18] - One company has stopped shipping ESS products to the US due to high tariffs, while others are expanding inverter capacity overseas [19] - Softening demand in the US is a key challenge, with concerns over potential price hikes dampening downstream demand [20] - Companies are considering scaling back US exposure if operational risks outweigh profitability compared to other regions [20]